Question: A 10-year note for $1200, bearing interest at 6% compounded monthly, is discounted at 8% compounded quarterly 3 years, 10 months after the date of

A 10-year note for $1200, bearing interest at 6% compounded monthly, is discounted at 8% compounded quarterly 3 years, 10 months after the date of issue. Find the proceeds of the note.

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